Basically you're telling us that the Ministry of Defense ordered some watches, but it didn't pay, therfore Vostok could not pay the taxes to the same government forcing Tzivilin to resign?An article about Vostok financial situation. (http://mywatch.ru/forum/index.php?showtopic=6750). Notice: I cannot verify this information, it is attributed to a Tatarstan newspaper and republished on a reputable Russian watch forum.
The main points, as far as I understood, are:
- Significant proportion of Vostok production was commissioned by car producers. When the crisis in 2008 began, these commissions all but stopped.
- The Ministry of Defense launched a bid for watches for the army - the new ZAKAZ. Vostok won the lion's share of this bid and invested lots of money for designing new watches and buying new machines.
- The Ministry of Defense did not transfer the money in time, and Vostok failed to pay its taxes in due course. For a relatively minor debts of 5 800 000 rubles (2-300 000 USD), a procedure of bancrupcy was launched.
- The Ministry of Defense sent the first installment on Sept 15, and Vostok was able to pay its debts, but the bankruptcy procedure was launched anyway. Tzivilin, Vostok director, resigned.
- The author suspects that somebody - with the help of the Russian Ministry of Defense, which did not transfer the money before Tzivilin's resignation, and the tax authorities which launched bankruptcy procedure for a relatively minor debt, and did not stop it when the debt was paid - intends to acquire the billions' USD worth of Vostok assets for peanuts.
Again, Russian is not my mother language and I cannot verify this info. Hope some native speaker will help.
Call me conspiracy theorist, but it sounds to me like a political intrigue to sack the CEO and take over that industry.